Canadian Dollar and President Barack Obama

President Barack Obama: Sell Canada' runs out of gas as foreigners rediscover their faith in Canuck investments On Wednesday, the Canadian dollar closed up one half of a cent at 81.55, according to CBC. Encouraging the loonie climb are rising commodity prices and Friday upbeat jobs report, showing the Canadian economy added 59,000 jobs last month. "Rising commodity prices and an improving domestic economic picture have helped to push the Canadian dollar higher along with some broad based US dollar weakness," said Knightsbridge FX currency trader Rahim Madhavji in a note to clients Wednesday. The U.S. dollar weakened after reports from the G7 meeting last weekend that President Barack Obama saw the strong greenback as "a problem." Obama has denied he is talking down the dollar. However, the U.S. jobs report also showed strong growth, increasing the likelihood that the U.S. Fed will strike a hawkish tone when it meets on June 17. Oil and gold are up The price of oil has risen in tandem with the Canadian dollar, with the West Texas Intermediate crude contract up $1.04 cents Wednesday to $61.18 US a barrel. That would strengthen the greenback and hit the loonie hard. (news.financializer.com). As reported in the news.